Ebix, Inc. (EBIX) Shares Sold by Morgan Stanley
Morgan Stanley decreased its stake in shares of Ebix, Inc. (NASDAQ:EBIX) by 40.0% during the first quarter, Holdings Channel reports. The firm owned 74,301 shares of the technology company’s stock after selling 49,524 shares during the period. Morgan Stanley’s holdings in Ebix were worth $4,551,000 as of its most recent filing with the SEC.
Several other institutional investors have also added to or reduced their stakes in the stock. Syntal Capital Partners LLC boosted its position in Ebix by 64.8% in the first quarter. Syntal Capital Partners LLC now owns 9,046 shares of the technology company’s stock valued at $554,000 after buying an additional 3,557 shares during the period. Eqis Capital Management Inc. boosted its position in Ebix by 2.1% in the first quarter. Eqis Capital Management Inc. now owns 19,275 shares of the technology company’s stock valued at $1,181,000 after buying an additional 389 shares during the period. Hussman Strategic Advisors Inc. boosted its position in Ebix by 25.0% in the first quarter. Hussman Strategic Advisors Inc. now owns 125,000 shares of the technology company’s stock valued at $7,656,000 after buying an additional 25,000 shares during the period. Great West Life Assurance Co. Can boosted its position in Ebix by 5.2% in the first quarter. Great West Life Assurance Co. Can now owns 30,867 shares of the technology company’s stock valued at $1,889,000 after buying an additional 1,524 shares during the period. Finally, Nikko Asset Management Americas Inc. boosted its position in Ebix by 67.3% in the first quarter. Nikko Asset Management Americas Inc. now owns 8,700 shares of the technology company’s stock valued at $533,000 after buying an additional 3,500 shares during the period. Institutional investors own 64.46% of the company’s stock.
Ebix, Inc. (NASDAQ:EBIX) remained flat at $58.00 during midday trading on Friday. 25,510 shares of the company traded hands. Ebix, Inc. has a 52-week low of $52.38 and a 52-week high of $65.10. The company has a market cap of $1.82 billion, a P/E ratio of 18.89 and a beta of 1.76. The firm’s 50 day moving average price is $56.22 and its 200 day moving average price is $58.20.
Ebix (NASDAQ:EBIX) last released its earnings results on Tuesday, August 8th. The technology company reported $0.74 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.67 by $0.07. The firm had revenue of $87.39 million for the quarter, compared to analyst estimates of $81.35 million. Ebix had a return on equity of 22.02% and a net margin of 30.69%. On average, equities analysts forecast that Ebix, Inc. will post $3.01 EPS for the current fiscal year.
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Several equities analysts have recently commented on the company. Zacks Investment Research cut Ebix from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 2nd. BidaskClub raised Ebix from a “sell” rating to a “hold” rating in a research report on Wednesday, July 19th.
In other news, VP Graham John Prior sold 18,500 shares of Ebix stock in a transaction that occurred on Monday, June 12th. The stock was sold at an average price of $55.33, for a total transaction of $1,023,605.00. Following the sale, the vice president now owns 18,506 shares of the company’s stock, valued at approximately $1,023,936.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 13.00% of the company’s stock.
Ebix, Inc (Ebix) is a supplier of software and e-commerce solutions to the insurance industry. Ebix provides application software products for the insurance industry, including carrier systems, agency systems and exchanges, as well as custom software development. Ebix conducts its operations through four channels, which include Exchanges, Carrier Systems, Broker Systems and Risk Compliance Solutions (RCS).
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